Expansion into Malaysia: MedcoEnergi (MEDC) Secures Cendramas PSC Block
JAKARTA - PT Medco Energi Internasional Tbk (MEDC), or MedcoEnergi, is expanding its business in Southeast Asia by signing a Production Sharing Contract (PSC) for the Cendramas block offshore Malaysia.
MedcoEnergi’s President Director, Hilmi Panigoro, stated that the signing was conducted through its subsidiary Medco Asia Pacific Limited with PETRONAS on 31 March 2026. The contract will become effective from 23 September 2026.
“We thank PETRONAS for its trust in MedcoEnergi as the operator of the Cendramas PSC and will collaborate with our partners to ensure safe, reliable, and efficient operations,” Hilmi said in an official statement on Friday (3/4/2026).
Meanwhile, the other two partners, Dialog Resources Sdn. Bhd. and EnQuest Petroleum Production Malaysia Ltd., each hold 25% participating interest.
Geographically, the Cendramas PSC working area is located adjacent to MedcoEnergi’s operations in the South Natuna Sea Block B. This location is considered to have similar geological and technical characteristics, offering potential operational efficiencies through synergies with existing assets.
MedcoEnergi’s management views this step as aligning with the company’s strategy to expand its regional portfolio, particularly in the upstream oil and gas sector.
In addition to the oil and gas business, MedcoEnergi currently has three main business lines: energy (electricity generation), as well as copper and gold mining.
In the energy sector, the company operates various power plants, from gas, solar, geothermal to mini-hydro in Indonesia.
With the addition of the Cendramas PSC, MedcoEnergi strengthens its position as one of the active regional energy companies conducting cross-border expansions, while utilising its technical and operational experience in Southeast Asia.
This step also demonstrates the company’s efforts to maintain business sustainability amid global energy industry dynamics, including energy transition challenges and commodity price fluctuations.